The Central Bank of Sri Lanka (CBSL) has confirmed that it has not made any decision to restrict vehicle imports, despite recent media speculation suggesting otherwise.

A senior CBSL official clarified that no letters or directives regarding import restrictions have been exchanged with the Treasury. The official further noted that vehicle imports resumed in February 2025 after a 5-year ban, with approximately 18,000 vehicles brought into the country since then.

Letters of credit worth around USD 800 million have been opened for vehicle imports, and USD 450 million worth of vehicles have already arrived. The Central Bank emphasised that these transactions rely on commercial bank reserves and do not affect CBSL’s foreign reserves, which currently stand at USD 6.3 billion.

Analysts also reiterated that vehicle imports have no direct impact on the Central Bank’s reserve holdings.